Elliott wave Ripple analysis

27 dic 2021

The XRPUSD market is forming a large wave (Y), in the form of an A-B-C zigzag. The middle part of the indicated zigzag, corrective wave B, is under development. Perhaps, this correction will take the form of a double zigzag [W]-[X]-[Y], where the sub-waves [W]-[X] are already completed. Now the last motive wave [Y] is developing. Most likely, it will take the form of a double zigzag (W)-(X)-(Y). Possibly, the decline in the linking wave (X) has come to an end, so shortly, the price will start to grow in the final sub-wave (Y) to the level of 1.055. At this level, the wave B will be 50% of the impulse A.

Trading plan for XRPUSD today:
Buy 0.919, TP 1.055